Texas-based Neiman Marcus emerges from bankruptcy with new owners


Dallas’ iconic name in shopping has come through its bankruptcy proceedings, although not entirely unscathed. According to a release, Neiman Marcus has emerged from voluntary Chapter 11 protection, completing its restructuring process and reorganization plan, with new owners and a new board of directors. The restructuring eliminated more than $4 billion of existing debt and more than $200 million of cash interest expense annually. CEO Geoffroy van Raemdonck says in a statement that the company…

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